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mentioned this recently too, there is a huge legal exposure, not only for what has happened so far, but it could multiply if correct procedures are not carried out while easing lockdown
can you imagine if it gets to a point where legal action is being taken against employers because an employee came to work and passed it on to somebody else at work who died
need to avert this potential disaster by efficient test, track and trace - else if not, the whole system as we know it is going to go into meltdown
what will be interesting, is if the main markets do continue down heavy for a few sessions because the rally of last 2 weeks has been far too early, then lets see how sentiment changes towards likes of gdr
gdr has only really been affected by the main markets rally, without we would no doubt be in the 160 region as a base
if there is no rns then there is no rns, but some company tomorrow will attract a lot of people trying to find a home for their cash
gdr has attracted a lot of new investors interest over the past month, but our momentum has halted
during that time avct hit £400m market cap, and how big a reason for that was their latest news while gdr and ncyt price was stagnating, i would say it had its part to play as some decided avct was the next one to move up
im not looking to argue whether avct at £400m was justified, but at £60m it makes gdr look too low
gdr had its placing to get through and avct no doubt benefited from that, could be a role reversal now
so yeah, a perfectly timed rns helps, massively
with the way the main markets are acting, if we landed a huge rns tomorrow, there could well be a scramble from everywhere to get in here
it sometimes is all about timing, so a 7am big orders rns would be amazing for us
Whatever type of holder you are, however long you have been holding, the last 4 to 5 weeks of price action has been hard to take, especially the last 2, lets just be honest with it, many of us enthusiastic holders called the short term wrong
Placing, background seller, sector sentiment, you name it we have had the volatility at max
But maybe, just maybe, we have hit the low point and are now turning a corner
Placing is in the past, background seller done, sentiment shifting back on realisation coronavirus is not going away, and the big thing, we are not far away now from hopefully big sales news dropping, which if it lands will ultimately transcend the company in another dimension
It has been a frustrating time, but hell even the chartists are now saying we could be reversing the trend
For anybody that has seen the film the big short, there is no problem with being early, as long as you are right
So bring on tomorrow, bring on next week, whenever it is, we are nearly there
tomorrow will be 6 weeks since manufacture complete rns on 1 may
tomorrow will be 3 weeks since ce mark rns on 22 may - which also mentioned commercial sales can start and distributions to potenial customers will begin
lets have a juicy update tomorrow
1. peel continue to be very agressive on the ask, compare level 2 to ncyt, odx and avct, no other MM is controlling any share like peel controls gdr
2. avct has dropped 10% since 2pm, assume this has coincided with their presentation? anybody on here holding avct and watching how the presentation is being received?
at this rate the dow could open down 3% and drag the ftse further with it
there certainly has been a rally from mid to late may in the main markets while lockdown is being eased, in the same period covid stocks have really had the wind knocked out of their sales
would not be surprised to see a reversal in the main markets, the dip to 23 march was clearly over sold, and the recent peak looks over bought, so i think it will find its level in the middle, which it kind of did during april
the coming months then depends on how the economy really performs
i for one, did not expect sentiment to jump back into the main markets as quick as it did last few weeks, so no doubt we are in for plenty more volatility short term
Looks like the board descended into chaos for first hour this morning, amazing what some blue does to calm people down...
Think 11th was only a backstop incase placing was not sorted on time
But we were told on 28th that admission had taken place
There has definitley been some games going on, maybe someone else has been selling last few days which we might find out about soon
One thing I will say, is maybe I underestimated the sentiment shift after the placing rns
The manufacture update came on Friday 1 May and we soared from about £1.10 to £1.50
Then on Monday 4 May we soared from £1.50 to £2 and 5pm rns about Hep C approval from WHO
Then on Tuesday 5 May we open at £2.50 and hit £2.90 before 8.50am placing rns
1. I will never know why that placing rns was not at 7am, or if it was not ready why didn't we just suspend market temporarily that morning
2. We still had the manufacture update on 1 May which sent us flying for 2 days, we would have been in middle of sorting placing, so I still question the timing somewhat
We are where we are now, the above is what it is